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In a recent transaction filed with the Securities and Exchange Commission, Ronald J. Lataille, Chief Financial Officer of UFP Technologies Inc. (NASDAQ:UFPT), acquired 400 shares of the company’s common stock. The shares were purchased at a price of $229.0899 each, resulting in a total transaction value of $91,635. According to InvestingPro data, this purchase comes as the stock has seen an 11.6% decline over the past week, suggesting potential value opportunity.
Following this acquisition, Lataille holds a total of 15,031 shares directly. Additionally, he possesses 38,940 shares indirectly, as noted in the filing. This move reflects Lataille’s continued investment in the company, which specializes in the manufacturing of surgical and medical instruments and apparatus. The company has demonstrated strong fundamentals with a 26% revenue growth and maintains a healthy balance sheet with a current ratio of 2.56, according to InvestingPro analysis.
UFP Technologies, headquartered in Newburyport, Massachusetts, remains a key player in the industrial applications and services sector, with a market capitalization of $1.77 billion. The company’s stock transactions are closely watched by investors, providing insights into the confidence of its executive leadership in the company’s future performance. InvestingPro subscribers can access 8 additional exclusive tips about UFPT’s financial health and growth prospects.
In other recent news, UFP Technologies Inc. announced significant changes to its executive compensation structure. The company’s CEO, R. Jeffrey Bailly, will see his base salary increase to $789,000, while other executives, including President Mitchell C. Rock and CFO Ronald J. Lataille, will have their salaries adjusted to $525,000 and $485,000, respectively. These changes will take effect on January 1, 2025. Additionally, the Compensation Committee approved stock unit awards for the executives, contingent on meeting specific financial performance objectives. These stock units are set to vest over a three-year period starting March 1, 2026. CEO Bailly received 11,515 "Threshold" stock units, along with " Target (NYSE:TGT)" and "Exceptional" units, while other executives received varying amounts. Furthermore, Bailly is eligible for a 2025 cash bonus plan with a target of $828,450, which could double based on performance. The committee also established cash bonus plans for other executives, with targets ranging from 40% to 65% of their base salaries.
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